On August 17, it was officially announced that Geely Automobile (00175.HK) had declared that, effective from August 18, 2026, Li Shufu would step down from his roles as Chairman of the Board and Executive Director of Geely Automobile Holdings Limited. In recognition of his exceptional contributions throughout the years, he would be bestowed with the title of Lifetime Honorary Chairman of the company. As the principal and controlling shareholder of the company, Li Shufu will persist in offering his full support to the company's long-term growth and will retain his position as Chairman of Zhejiang Geely Holding Group. In the meantime, An Conghui will assume the role of Chairman of the Board of Geely Automobile Holdings Limited, succeeding Li Shufu. Li Donghui will relinquish his position as Vice Chairman of the Board but will continue to serve as an Executive Director. Gui Shengyue will step down from his position as CEO and will be appointed as Vice Chairman of the Board, while also continuing to serve as an Executive Director, in a move aimed at enhancing the efficiency of communication and coordination between the Board and the management. Gan Jiayue has been designated as the new CEO, tasked with overseeing the company's daily operations.